NEW DELHI: Kerala-based Kalyan Jewellers on Monday reported a 30 percent year-on-year growth in consolidated sales in the September quarter. The performance was driven by a combination of wedding demand and an early, strong festive season.
The company's India operations were the primary growth engine, witnessing a remarkable 31 percent revenue increase in July-September quarter (FY2026) compared to the same period last year. This growth was achieved despite a high base from the previous year, which benefited from a customs duty reduction. Management noted that the sales from Navratri, which fell in Q2 this year but not in the base quarter, helped offset this base effect. The underlying strength of the business was further highlighted by a healthy 16 percent same-store-sales-growth (SSSG).
"Our recently concluded quarter has been a very gratifying one," said the company in an exchange filing. "The strong momentum in India, fueled by wedding purchases and a vibrant start to the festive season, underscores the resilience of the branded jewellery market."
International markets also contributed positively, with a 17 percent revenue growth. The Middle East operations, in particular, grew by 10 percent, driven entirely by organic SSSG with no new store additions in the region during the quarter. International business contributed approximately 12 percent to the company's total consolidated revenue.
A standout performer was the company's digital-first platform, Candere, which recorded an impressive 127 percent year-on-year revenue growth. The company reported significant improvements in showroom footfalls and web traffic for the platform, signalling strong consumer adoption.
On the expansion front, Kalyan Jewellers maintained an aggressive pace, launching 15 new Kalyan showrooms in India and 2 in the Middle East. Additionally, it significantly expanded the footprint of its digital brand by opening 15 new Candere showrooms in India. As of September 30, 2025, the total showroom count across India and the Middle East stood at 436.
Despite the strong quarterly numbers, share prices of the company fell by over 2 percent on Monday to Rs 482 a piece at 1:00 pm (IST) against the Friday close of 491.